China completes 79 percent of autumn grain harvest

China has harvested 79 percent of its autumn grain as of Thursday (Oct 15) and is on track to record a bumper harvest this year, the People's Daily reported Friday.

Some 60.1 million hectares of the autumn crops have been harvested so far, including soy, corn and rice, according to the report.

Meanwhile, China has planted 22.5 million hectares of crops such as winter wheat and rapeseed, or 48 percent of the planned area.

The country will likely record an annual grain output increase for the sixth year in a row; output rose 5.4 percent to 528.5 million tonnes last year.

A bumper harvest will enable the government to hike the reserve levels and play a key role in setting grain prices this year.

Earlier this week, the government said it will continue to buy corn and soy from farmers if prices fall sharply after the current harvest, and hike the minimum purchase prices for wheat and rice next year.